Medical Robotic System
PUBLISHED: 2024 ID: SMRC26371
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Medical Robotic System

Medical Robotic System Market Forecasts to 2030 - Global Analysis By Product Type (Surgical Robotic Systems, Rehabilitative Robotic Systems, Non-invasive Radiosurgery Robots, Hospital and Pharmacy Robotic Systems, Clean Room Robots, Robotic Prosthetics, Exo-Robots and Other Product Types), Type, Component, Deployment Type, Service, Application, End User and By Geography

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4.2 (26 reviews)
Published: 2024 ID: SMRC26371

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Medical Robotic System Market is accounted for $29.97 billion in 2024 and is expected to reach $84.68 billion by 2030 growing at a CAGR of 18.9% during the forecast period. Medical robotic systems are a revolutionary fusion of technology and healthcare that will completely change how procedures are carried out and treatments are given. These advanced devices are made to help surgeons perform complex procedures with greater accuracy and dexterity than is humanly possible, all while lowering patient risks. Moreover, medical robots can navigate delicate anatomical structures with unparalleled accuracy thanks to their advanced sensors, imaging technologies, and AI algorithms. 

According to the International Federation of Robotics (IFR), the adoption of medical robotics is rapidly expanding, with an estimated 17,000 units of surgical robots installed worldwide by the end of 2020.

Market Dynamics: 

Driver: 

Growing requirement for less invasive surgery

Reduction in pain, shorter hospital stays, quicker recovery periods, and smaller incisions that leave fewer scars are just a few advantages that minimally invasive surgeries have over open procedures. There is a growing demand for medical robotic systems because they allow surgeons to perform these procedures with greater control and precision. Additionally, medical professionals are investing in robotically assisted surgical systems in response to patient demand for less invasive procedures, which is on the rise.

Restraint:

High starting prices

The high initial costs of medical robotic systems are one of the main obstacles preventing their widespread adoption. For healthcare facilities, the initial cost of purchasing robotic surgical systems, in addition to related training and maintenance costs can be significant. The expense burden is further increased by the requirement for specialized infrastructure and regular software updates. Furthermore, these exorbitant expenses are a major deterrent to investing in robotic technologies, especially for smaller healthcare providers or those working in resource-constrained environments.

Opportunity:

Innovations in technology and scientific progress

The medical robotic system market has a lot of potential due to ongoing advancements in robotic technology, which include the creation of smaller, more nimble robotic platforms, improved imaging modalities, and AI-driven surgical assistance. Technology companies, healthcare facilities, and research groups working together make it easier to discover new uses for robotic platforms already in use and to improve them. Moreover, the market for medical robotic systems is also evolving as a result of investments in research and development (R&D) projects that enhance surgical methods, increase the capabilities of medical robots, and investigate novel therapeutic areas.

Threat:

Market saturation and competition

The market for medical robotic systems is getting more and more competitive as more businesses enter the market and offer comparable technologies. The possibility of market saturation, in which the supply of medical robotic systems exceeds the demand, arises as a consequence. Price wars, shrinking profit margins, and decreased profitability for suppliers and manufacturers are all consequences of intense competition. Additionally, the dominance of medical robotic systems in some specialties is threatened by the spread of alternative surgical techniques and technologies like image-guided interventions and laparoscopic surgery.

Covid-19 Impact: 

The market for medical robotic systems has been affected by the COVID-19 pandemic in a number of ways. A temporary slowdown in market growth was caused by the initial phase of the pandemic, which caused disruptions in manufacturing, supply chain logistics, and elective surgical procedures. However, the adoption of robotic-assisted surgeries has accelerated due to the need for social distancing and the subsequent emphasis on infection control measures. Healthcare facilities have been using robotic systems more and more to improve surgical precision, reduce the risk of viral transmission, and preserve personal protective equipment.

The Software Platform segment is expected to be the largest during the forecast period

The medical robotic system market is usually dominated by the software platform segment. This is so that data processing, robotic movement control, and hardware-to-hardware communication are all made possible by the software platform, which forms the core of medical robotic systems. These platforms enable precise surgical navigation, planning, and execution through the use of cutting-edge algorithms, artificial intelligence (AI), and machine learning capabilities. Furthermore, software platforms are essential for improving workflow efficiency, guaranteeing patient safety during robotically assisted procedures, and improving the user experience.

The Cloud Based segment is expected to have the highest CAGR during the forecast period

In the medical robotic system market, the cloud-based segment usually has the highest CAGR. Cloud-based solutions are becoming more and more appealing to medical device manufacturers and healthcare providers due to their many benefits, which include scalability, flexibility, and accessibility. Moreover, cloud-based medical robotic systems improve productivity, connectivity, and patient care delivery by enabling real-time data sharing, remote monitoring, and collaborative workflows.

Region with largest share:

In the medical robotic system market, North America usually holds the largest share. This dominance is ascribed to elements like the existence of a sophisticated healthcare infrastructure, high healthcare costs, advantageous reimbursement practices, and a strong regulatory environment that fosters the uptake of medical robotic systems. Additionally, the area also gains from a robust ecosystem of healthcare providers, research institutes, and technology companies that foster innovation and market expansion. Due to the extensive use of robotic-assisted surgeries in a variety of specialties, including gynecology, general surgery, and urology, the United States holds a sizable share of the market.

Region with highest CAGR:

In the medical robotic system market, Asia-Pacific usually has the highest CAGR. A growing awareness of advanced treatment options, rising disposable incomes, investments in medical technology, and a quickly growing healthcare infrastructure are some of the factors driving this growth. The Asia-Pacific region, which includes China, Japan, South Korea, and India, is seeing a sharp increase in the demand for medical robotic systems due to the growing prevalence of chronic illnesses, an aging population, and a move toward minimally invasive surgical procedures. Moreover, encouraging government programs, helpful laws, and alliances between foreign producers and regional healthcare providers all contribute to the market's expansion in the area.

Key players in the market

Some of the key players in Medical Robotic System market include Hitachi Medical Systems, Auris Surgical Robotics Inc. (Hansen Medical Inc.), Mako Surgical Corp., Omnicell Technologies, Medtronic, Renishaw Plc, Accuray Incorporated, Intuitive Surgical Inc., Siemens Healthineers AG, Mazor Robotics Ltd, iRobot Corporation, Stryker Corporation, Titan Medical Inc., Varian Medical Systems and Smith & Nephew PLC.

Key Developments:

In May 2024, Roche and Hitachi have collaborated to deliver innovative diagnostic solutions that help improve patient outcomes worldwide. As the two companies sign a new agreement, we look back on their achievements, and their continuing impact on diagnostics and beyond.

In December 2023, Medtronic plc, a global leader in healthcare technology, announces that it has entered into a definitive agreement to expand its partnership with Cosmo Intelligent Medical Devices, a subsidiary of Cosmo Pharmaceuticals.
 
In August 2023, Siemens Healthineers is teaming up with Catholic non-profit health care system SSM Health in a new 10-year strategic partnership aimed at advancing access to high-quality care and training of health care workers in the Midwest region of the US.

Product Types Covered:
• Surgical Robotic Systems
• Rehabilitative Robotic Systems
• Non-invasive Radiosurgery Robots
• Hospital and Pharmacy Robotic Systems
• Clean Room Robots
• Robotic Prosthetics
• Exo-Robots
• Other Product Types 
 
Types Covered:
• Traditional Robots
• Collaborative Robots
• Other Types 

Components Covered:
• Locomotion Systems       
• Visualization System       
• Safety Systems        
• Software Platform
• User Interface        
• Power Sources
• Other Components
 
Deployment Types Covered:
• On-Premises
• Cloud Based 
 
Services Covered:
• Instrument and Accessories
• Medical Service 

Applications Covered:
• Neurology
• Cardiology
• Orthopedics
• Urology
• Pharmacy
• Physical Rehabilitation
• Gynecology
• Laparoscopy
• Radiation Therapy
• Special Education
• Other Applications

End Users Covered:
• Hospitals
• Ambulatory Surgical Centers
• Rehabilitation Centers
• Pharmacy
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary        
         
2 Preface        
 2.1 Abstract       
 2.2 Stake Holders       
 2.3 Research Scope       
 2.4 Research Methodology       
  2.4.1 Data Mining      
  2.4.2 Data Analysis      
  2.4.3 Data Validation      
  2.4.4 Research Approach      
 2.5 Research Sources       
  2.5.1 Primary Research Sources      
  2.5.2 Secondary Research Sources      
  2.5.3 Assumptions      
         
3 Market Trend Analysis        
 3.1 Introduction       
 3.2 Drivers       
 3.3 Restraints       
 3.4 Opportunities       
 3.5 Threats       
 3.6 Product Analysis       
 3.7 Application Analysis       
 3.8 End User Analysis       
 3.9 Emerging Markets       
 3.10 Impact of Covid-19       
         
4 Porters Five Force Analysis        
 4.1 Bargaining power of suppliers       
 4.2 Bargaining power of buyers       
 4.3 Threat of substitutes       
 4.4 Threat of new entrants       
 4.5 Competitive rivalry       
         
5 Global Medical Robotic System Market, By Product Type        
 5.1 Introduction       
 5.2 Surgical Robotic Systems       
  5.2.1 Orthopedic Robotic Systems      
  5.2.2 Neurosurgery Robotic Systems      
  5.2.3 General Laparoscopy Robotic Systems      
  5.2.4 Steerable Robotic Catheters      
 5.3 Rehabilitative Robotic Systems       
 5.4 Non-invasive Radiosurgery Robots       
 5.5 Hospital and Pharmacy Robotic Systems       
 5.6 Clean Room Robots       
 5.7 Robotic Prosthetics       
 5.8 Exo-Robots       
 5.9 Other Product Types       
         
6 Global Medical Robotic System Market, By Type        
 6.1 Introduction       
 6.2 Traditional Robots       
 6.3 Collaborative Robots       
 6.4 Other Types       
         
7 Global Medical Robotic System Market, By Component        
 7.1 Introduction       
 7.2 Locomotion Systems              
 7.3 Visualization System              
 7.4 Safety Systems               
 7.5 Software Platform               
 7.6 User Interface               
 7.7 Power Sources       
 7.8 Other Components       
         
8 Global Medical Robotic System Market, By Deployment Type        
 8.1 Introduction       
 8.2 On-Premises       
 8.3 Cloud Based       
         
9 Global Medical Robotic System Market, By Service        
 9.1 Introduction       
 9.2 Instrument and Accessories       
 9.3 Medical Service       
         
10 Global Medical Robotic System Market, By Application        
 10.1 Introduction       
 10.2 Neurology       
 10.3 Cardiology       
 10.4 Orthopedics       
 10.5 Urology       
 10.6 Pharmacy       
 10.7 Physical Rehabilitation       
 10.8 Gynecology       
 10.9 Laparoscopy       
 10.10 Radiation Therapy       
 10.11 Special Education       
 10.12 Other Applications       
         
11 Global Medical Robotic System Market, By End User        
 11.1 Introduction       
 11.2 Hospitals       
 11.3 Ambulatory Surgical Centers       
 11.4 Rehabilitation Centers       
 11.5 Pharmacy       
 11.6 Other End Users       
         
12 Global Medical Robotic System Market, By Geography        
 12.1 Introduction       
 12.2 North America       
  12.2.1 US      
  12.2.2 Canada      
  12.2.3 Mexico      
 12.3 Europe       
  12.3.1 Germany      
  12.3.2 UK      
  12.3.3 Italy      
  12.3.4 France      
  12.3.5 Spain      
  12.3.6 Rest of Europe      
 12.4 Asia Pacific       
  12.4.1 Japan      
  12.4.2 China      
  12.4.3 India      
  12.4.4 Australia      
  12.4.5 New Zealand      
  12.4.6 South Korea      
  12.4.7 Rest of Asia Pacific      
 12.5 South America       
  12.5.1 Argentina      
  12.5.2 Brazil      
  12.5.3 Chile      
  12.5.4 Rest of South America      
 12.6 Middle East & Africa       
  12.6.1 Saudi Arabia      
  12.6.2 UAE      
  12.6.3 Qatar      
  12.6.4 South Africa      
  12.6.5 Rest of Middle East & Africa      
         
13 Key Developments        
 13.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 13.2 Acquisitions & Mergers       
 13.3 New Product Launch       
 13.4 Expansions       
 13.5 Other Key Strategies       
         
14 Company Profiling        
 14.1 Hitachi Medical Systems       
 14.2 Auris Surgical Robotics Inc. (Hansen Medical Inc.)       
 14.3 Mako Surgical Corp.       
 14.4 Omnicell Technologies       
 14.5 Medtronic       
 14.6 Renishaw Plc       
 14.7 Accuray Incorporated       
 14.8 Intuitive Surgical Inc.       
 14.9 Siemens Healthineers AG       
 14.10 Mazor Robotics Ltd       
 14.11 iRobot Corporation       
 14.12 Stryker Corporation       
 14.13 Titan Medical Inc.       
 14.14 Varian Medical Systems       
 14.15 Smith & Nephew PLC       
         
List of Tables         
1 Global Medical Robotic System Market Outlook, By Region (2022-2030) ($MN)        
2 Global Medical Robotic System Market Outlook, By Product Type (2022-2030) ($MN)        
3 Global Medical Robotic System Market Outlook, By Surgical Robotic Systems (2022-2030) ($MN)        
4 Global Medical Robotic System Market Outlook, By Orthopedic Robotic Systems (2022-2030) ($MN)        
5 Global Medical Robotic System Market Outlook, By Neurosurgery Robotic Systems (2022-2030) ($MN)        
6 Global Medical Robotic System Market Outlook, By General Laparoscopy Robotic Systems (2022-2030) ($MN)        
7 Global Medical Robotic System Market Outlook, By Steerable Robotic Catheters (2022-2030) ($MN)        
8 Global Medical Robotic System Market Outlook, By Rehabilitative Robotic Systems (2022-2030) ($MN)        
9 Global Medical Robotic System Market Outlook, By Non-invasive Radiosurgery Robots (2022-2030) ($MN)        
10 Global Medical Robotic System Market Outlook, By Hospital and Pharmacy Robotic Systems (2022-2030) ($MN)        
11 Global Medical Robotic System Market Outlook, By Clean Room Robots (2022-2030) ($MN)        
12 Global Medical Robotic System Market Outlook, By Robotic Prosthetics (2022-2030) ($MN)        
13 Global Medical Robotic System Market Outlook, By Exo-Robots (2022-2030) ($MN)        
14 Global Medical Robotic System Market Outlook, By Other Product Types (2022-2030) ($MN)        
15 Global Medical Robotic System Market Outlook, By Type (2022-2030) ($MN)        
16 Global Medical Robotic System Market Outlook, By Traditional Robots (2022-2030) ($MN)        
17 Global Medical Robotic System Market Outlook, By Collaborative Robots (2022-2030) ($MN)        
18 Global Medical Robotic System Market Outlook, By Other Types (2022-2030) ($MN)        
19 Global Medical Robotic System Market Outlook, By Component (2022-2030) ($MN)        
20 Global Medical Robotic System Market Outlook, By Locomotion Systems (2022-2030) ($MN)        
21 Global Medical Robotic System Market Outlook, By Visualization System (2022-2030) ($MN)        
22 Global Medical Robotic System Market Outlook, By Safety Systems (2022-2030) ($MN)        
23 Global Medical Robotic System Market Outlook, By Software Platform (2022-2030) ($MN)        
24 Global Medical Robotic System Market Outlook, By User Interface (2022-2030) ($MN)        
25 Global Medical Robotic System Market Outlook, By Power Sources (2022-2030) ($MN)        
26 Global Medical Robotic System Market Outlook, By Other Components (2022-2030) ($MN)        
27 Global Medical Robotic System Market Outlook, By Deployment Type (2022-2030) ($MN)        
28 Global Medical Robotic System Market Outlook, By On-Premises (2022-2030) ($MN)        
29 Global Medical Robotic System Market Outlook, By Cloud Based (2022-2030) ($MN)        
30 Global Medical Robotic System Market Outlook, By Service (2022-2030) ($MN)        
31 Global Medical Robotic System Market Outlook, By Instrument and Accessories (2022-2030) ($MN)        
32 Global Medical Robotic System Market Outlook, By Medical Service (2022-2030) ($MN)        
33 Global Medical Robotic System Market Outlook, By Application (2022-2030) ($MN)        
34 Global Medical Robotic System Market Outlook, By Neurology (2022-2030) ($MN)        
35 Global Medical Robotic System Market Outlook, By Cardiology (2022-2030) ($MN)        
36 Global Medical Robotic System Market Outlook, By Orthopedics (2022-2030) ($MN)        
37 Global Medical Robotic System Market Outlook, By Urology (2022-2030) ($MN)        
38 Global Medical Robotic System Market Outlook, By Pharmacy (2022-2030) ($MN)        
39 Global Medical Robotic System Market Outlook, By Physical Rehabilitation (2022-2030) ($MN)        
40 Global Medical Robotic System Market Outlook, By Gynecology (2022-2030) ($MN)        
41 Global Medical Robotic System Market Outlook, By Laparoscopy (2022-2030) ($MN)        
42 Global Medical Robotic System Market Outlook, By Radiation Therapy (2022-2030) ($MN)        
43 Global Medical Robotic System Market Outlook, By Special Education (2022-2030) ($MN)        
44 Global Medical Robotic System Market Outlook, By Other Applications (2022-2030) ($MN)        
45 Global Medical Robotic System Market Outlook, By End User (2022-2030) ($MN)        
46 Global Medical Robotic System Market Outlook, By Hospitals (2022-2030) ($MN)        
47 Global Medical Robotic System Market Outlook, By Ambulatory Surgical Centers (2022-2030) ($MN)        
48 Global Medical Robotic System Market Outlook, By Rehabilitation Centers (2022-2030) ($MN)        
49 Global Medical Robotic System Market Outlook, By Pharmacy (2022-2030) ($MN)        
50 Global Medical Robotic System Market Outlook, By Other End Users (2022-2030) ($MN)        
         
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.         

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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